When Chinese Premier Li Keqiang visited Germany last week, BMW Group and Volkswagen Group each signed deals pledging to invest more in their China joint ventures.
And the German automakers obtained something in return -- the opportunity to gain control of local joint ventures before other foreign peers.
What the Chinese government promised the companies was undisclosed in the statements BMW and VW released under new agreements with their Chinese partners, but the State
China is considering a further reduction in electric-vehicle subsidies next year as the government pushes automakers to innovate rather than rely on fiscal policy to spur demand for alternative-energy cars, people familiar with the plan said.
The average sales incentive per EV may be lowered by more than a third from the 2018 levels, said the people, who asked not to be identified disclosing information that isn’t public.
Vehicles may be required to be able to go at least